Finance Extra for the UK and Spain

Finance Extra for the UK and Spain

ROLLS ROYCE: Will build engines for US Doomsday plane Credit: CC/Delta News Hub

Playing safe ROLLS-ROYCE will supply the engines for the latest version of the US military aircraft called the Doomsday planes due to their capacity for surviving a nuclear blast as well as electromagnetic pulses.  The British manufacturer will join other aerospace companies working on the aircraft that can accommodate 111 people and include work, conference and briefing rooms.

Charge-free DIPLOMATS based in the capital owe Transport for London (TFL) around £143 million (€167.84 million) in unpaid congestion charges.  The US Embassy’s accumulation has reached £14 million (€16.43 million), followed by Japan’s with more than £10.1 million (€11.85 million).

Media deal SQUIRREL MEDIA has acquired IKI Group, one of Spain’s leading advertising agencies, which will now be integrated into the media, advertising, audiovisual and technological services company.  The amount involved was not revealed “to avoid influencing” other operations currently in the pipeline, Squirrel said.

Citi flaws THE UK’S Prudential Regulation Authority and the Financial Conduct Authority have between them fined Citigroup £61.7 million (€72.5 million) for flaws in the company’s trading systems and controls. These failures led to a trader incorrectly selling around $1.4 billion (€1.3 billion) of equities, both regulators said.

Iberdrola plan IBERDROLA hopes to thrash out an agreement enabling it to pay $35.75 (€32.91) per share for the remainder of its Connecticut-based US subsidiary Avangrid, in which it currently holds an 81.6 per cent stake.  The total operation, if it goes ahead, will cost the energy company a total of $2.551 billion (€2.348 billion).

No dice FINANCIAL services company Hargreaves Lansdown has twice rejected a £4.6 billion (€5.4 billion) takeover from a consortium headed by CVC Capital and Abu Dhabi’s wealth fund.  The group said it was considering making a third approach for the Bristol-based company and had until June 19 to make a firm bid.

Gas licences NATURGY hopes to renew its natural gas distribution licences in Argentina for 20 years, although the diplomatic standoff between President Milei and the Spanish government could complicate renewal.  At present Naturgy provides gas in part of Buenos Aires province and four other provinces.

Looking ahead ASTRAZENECA, Britain’s largest pharmaceutical compan, announced revenues of $45.8 billion (€42.4 billion) in 2023, with an $80 billion (approximately €74 billion) target for 2030.  The company said this could be achieved thanks to rising demand for its biopharmaceuticals, oncology, and diabetes treatments.

Madrid plans ATLETICO DE MADRID has applied to Madrid city hall for planning permission for its €350 future sports centre which will cover five plots of land surrounding the club’s existing football stadium.  The complex, which will cost more than €350 million instead of the €200 million originally announced, is expected to be completed and in use by late 2026.

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Written by

Linda Hall

Originally from the UK, Linda is based in Valenca and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com.

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